StoneRiver Adds Billing Offering to Stream Solution Set

Billing Stream is designed to maximize real-time processing and support standard direct bill functionality, including single policy- and account-level billing, and multiple payment options, such as electronic funds transfer, credit cards, mortgagee billing, and payroll deduction.

Core insurance operational solutions vendor StoneRiver has released Billing Stream — Direct, a component of the vendor's StoneRiver Stream solution set, built on advanced service-oriented architecture with an embedded service bus.

Billing Stream solution maximizes real-time processing and supports standard direct bill functionality, including single policy- and account-level billing, and multiple payment options, such as electronic funds transfer, credit cards, mortgagee billing, and payroll deduction, according to a StoneRiver news release. The property-casualty billing solution also includes strong workers’ compensation capability.

In designing the solution StoneRiver says it made flexibility to define installment plans and payment options a primary focus so that carriers can customize for their customers. The vendor says that the solution includes enhanced workflow and business process management functionality to manage, optimize and load balance billing operations. The Billing Stream solution provides a full graphical workbench with dashboards for every level from clerical staff to executives, an as well key performance indicators (KPIs) on workloads and throughputs. In addition, the new Billing Stream solution includes functionality for web presentment and payment of bills, eliminating the paper required in traditional billing methods, according to StoneRiver.

“The Billing Stream solution addresses a carrier’s need to respond quickly, decide wisely, and grow intelligently,” comments Gary Sherne, president, StoneRiver Insurance Solutions. “We capitalized on our substantial internal insurance billing knowledge, loaded powerful tools to address business problems, and built on a market leading architecture that eases integration issues. The Billing Stream solution represents a major improvement over the billing solutions currently on the market.”

Anthony O'Donnell has covered technology in the insurance industry since 2000, when he joined the editorial staff of Insurance & Technology. As an editor and reporter for I&T and the InformationWeek Financial Services of TechWeb he has written on all areas of information ... View Full Bio